Advisers' disciplinary records now online

State securities regulators today announced a new reporting service that allows investors to check on the disciplinary records of their investment advisers online. Until now, regulatory records of individuals working for investment advisory firms were not available online. These individuals, licensed as investment adviser representatives, were subject to reporting requirements similar to registered representatives, but unless they were also registered to sell securities, their records were not available online through the BrokerCheck system, the online portal run by the Financial Industry Regulatory Authority Inc. Previously, the adviser disclosure system provided instant access only to registration documents filed by registered investment advisory firms, according to the North American Securities Administrators Association Inc. Users can now go to adviserinfo.sec.gov, search individual IARs and pull up reports through BrokerCheck.